Malaysia’s Cahya Mata Unit Plans JV

Malaysia’s Cahya Mata Unit Plans JV
Published: 08 April 2004

Malaysia’s Cahya Mata Sarawak Bhd (CMS) said it has signed a memorandum of understanding with a Philippines company, Premier Capital Venture Corp, to merge their respective units.  The companies plan to establish a joint venture between Cahya’s unit, CMS Cement Sdn Bhd., and Premier’s unit, Sarawak Clinker Sdn Bhd, with Cahya owning 50.1 per cent of the joint venture and Premier owning the rest.  "The completion of the intended merger is envisaged to transform CMS into an enlarged and fully integrated producer and dealer in cement and cement-related products," Cahya Mata said in a brief statement.  It didn’t provide details of the cost of establishing the joint venture.